• 통상정보연구
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• 제11권3호
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• pp.287-309
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• 2009

There were many changes regarding Negotiation of document under UCP 600. First of all, the definition of Negotiation was changed. The UCP 500 stated "Negotiation means the giving of value for drafts and documents by the bank authorized to negotiation", but the UCP 600 defines "negotiation" as following "negotiation means the purchase by the nominated bank of drafts and/or documents under a complying presentation". Under the UCP 600 the meaning of negotiation was more clear than UCP 500. Second UCP 600 permits all deferred payment credits be discountable or negotiable. This amended rule equated the deferred payment credit with banker's acceptance credit which was contrary with the nature and the practice of former deferred payment credit transaction. Third, UCP 600 has also provided for reimbursement rights for nominated banks and a conceptual basis for protecting nominated banks against beneficiary fraud. In this paper, the problems regarding negotiation of document under UCP600 was studied and the solutions for the problems occurring in appling UCP 600 in practical field was provided.

• 한국중재학회지:중재연구
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• 제22권3호
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• pp.119-139
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• 2012

In the case of Banque Paribas V. Banco Santander in England for the reimbursement request of deferred payment credit by the nominated bank, the L/C-issuing bank refused to pay the proceeds at maturity because of a fraudulent transaction. The reason of refusal was that the nominated bank, Banco Santander, had no right of payment in deferred credit before its maturity if it made payment of proceeds without notice to the issuing bank, that is, payment not based upon a credit transaction but on its own account. However, in the case of ADIB V. Fortis Bank in America, the New York court made the decision that the deferred payment bank could not refuse to reimburse to the nominated bank, Fortis Bank, because of fraud. Its decision was based on the UCP600. We have analyzed and investigated the above two cases-one was an English court's decision and the other an American's. The English court's decision was made under UCP500, but the American court's was made under UCP600, which was revised in 2007. As a result, we can expect that from now on in deferred payment credit transactions, the power of the nominated bank will be greater than before, but the issuing bank will bear the risk of the beneficiary's fraud, so the issuing bank will be hesitant to issue deferred payment credit. Notwithstanding, we thought that the New York court decision would come into effect in the activation of deferred payment credit in practical trade transactions.

• 정보학연구
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• 제3권4호
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• pp.55-72
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• 2000

본 연구는 오늘날 국제금융 또는 국제건설공사거래 외에 매매대금의 지급을 위해 활용되는 보증신용장을 중심으로 하여 보증신용장의 본질과 보증신용장과 관련된 국제규칙을 분석한 다음, 보증신용장에 관한 신통일규칙의 제정배경과 규정된 내용 기존의 UCP와 URDG 등과 비교하여 이 규칙의 효용성과 활용상의 문제점들을 구체적으로 제시하였다.

• 무역상무연구
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• 제13권
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• pp.563-579
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• 2000

Until July 1, 1996, no international rules, other than the simple practices contained in the UCP 500 have existed for the processing of bank-to-bank reimbursements. At last, ICC Uniform Rules for Bank-to-Bank Reimbursements under Documentary Credits(Pub. No. 525) have been published on July 1, 1996. Our country have adopted the URR 525 on August 1996. But in view of the present number of countries adopted the URR 525, I think our country is very impetuous. In order to comprehend the URR 525 correctly, this study is carrying out to clarify the legal principles on reimbursements among issuing banks, nominated banks, unauthorized banks. Secondly, this study is carrying out indicate the background of establishing, the main contents, the approval and the criticism of URR 525. Finally, this study is carrying out to point out the matters that demand special attention about the operation of URR 525